Reinsurance News
Citizens to reduce policy count
16th December 2019
Florida's state-run insurer Citizens Property Insurance Corporation is set for an outside review as it looks to further reduce its footprint since the last external study was published five years ago. In August 2019, Senator Jeff Brandes, R-St. Petersburg, challenged the company to look at ways to further reduce its policy ... Read the full article
MAPFRE expects up to $156mn hit from Faxai, Hagibis & Chile unrest
16th December 2019
MAPFRE has revealed that it expects to assume losses of between €130 million - €140 million (USD 145mn - USD 156mn) as a result of the impacts of typhoons Faxai and Hagibis, and to a lesser amount, the damages caused by the recent disturbances in Chile. The insurer and reinsurer has ... Read the full article
Brookfield Business Partners completes Genworth Canada purchase
16th December 2019
Genworth Financial, Inc. has announced the closing of the sale of its majority share in Genworth MI Canada Inc. to Brookfield Business Partners. The deal was announced in August, and sees Brookfield Business Partners acquire a 57% controlling interest in Genworth MI Canada Inc. for approximately CAD 2.4 billion (USD ... Read the full article
Fred Willemze named Country Manager, Victor Nederland
16th December 2019
Victor Insurance Holdings, the world's largest managing general underwriter, has named Fred Willemze Country Manager, Victor Nederland, in addition to his role as Strategic Partnerships Director for Victor International. The appointment is effective immediately and Willemze will continue to report to Anthony Stevens, President of Victor International, and remains a member ... Read the full article
Japanese market to rebound despite complicated losses: AIG’s Zaffino
13th December 2019
Despite the recent impacts of catastrophe events in Japan, executives at insurer and reinsurer AIG expect the region's market to rebound and adjust to the recent and complex spate of typhoons. Highlighted by the most recent devastation caused by typhoon Hagibis, the catastrophe experience in Japan over the last 18 months ... Read the full article
Marsh adds four to aerospace team in London
13th December 2019
Global re/insurance brokerage Marsh has added Oliver Boreham, Robin Milan, Victoria Mayes, and Kevin Eley to its aerospace team in London. Boreham and Milan, who both join as aerospace brokers from K.M. Dastur and Willis Towers Watson respectively, are expected to start in the first quarter of 2020 and will report ... Read the full article
Silent risks undermine insurers’ cyber exposure efforts, says Fitch
13th December 2019
Despite underwriters being increasingly aware of the potential exposures presented by silent cyber risks it remains a very real and urgent threat, which analysts at Fitch Ratings say is key to understanding, and therefore the effective management of the evolving cyber risk landscape. In a recent report, analysts at Fitch Ratings ... Read the full article
Aon London’s Scott Taylor to lead Miller’s International FI & D&O unit
13th December 2019
Broker Miller has announced the appointment of Scott Taylor from Aon London to lead the firm's International Wholesale Financial Institutions and Directors & Officers' (FIDO) division. In his new role, Taylor will be responsible for managing and developing the broker's existing international FI and D&O offering and product. He has a ... Read the full article
Markel adds Brook Styles as cargo, specie and terrorism underwriter
13th December 2019
Specialist insurer Markel International has appointed Brook Styles as cargo, specie and terrorism underwriter in its London office. Styles brings over 23 years’ experience in the marine underwriting space, having began his career at Markel. He re-joins the company from Pioneer Underwriting, having most recently served as head of marine specialty. Reporting to ... Read the full article
Chubb voices approval for US-Mexico-Canada trade agreement
13th December 2019
Insurer and reinsurer Chubb has issued a statement of support for the United States-Mexico-Canada free trade agreement (USMCA), which it believes will provide many important protections for the financial services and re/insurance industries. In the US, House Democrats reached an agreement to advance the USMCA earlier this week, following months of ... Read the full article
Lloyd’s set to mandate use of delegated authority platform
13th December 2019
Re/insurance marketplace Lloyd’s of London has given advance notice of its intention to centralise the reporting of all delegated authority data into the Delegated Authority: Submission, Access and Transformation Solution (DA SATS) platform. DA SATS is a delegated authority reporting platform that collects and validates bordereaux data, holds it in one ... Read the full article
The Hartford adds Sean Genden as international insurance head
13th December 2019
The Hartford has added Sean Genden as head of international insurance, effective December 16. Genden joins from Travelers Insurance having most recently served as international business insurance segment lead. Other roles at Travelers included Chief Executive Officer of their Lloyd’s managing agency, and CEO of the UK domiciled insurance company. He will be ... Read the full article
Thomas Miller Specialty acquires Lodestar Marine’s book of business
13th December 2019
Global insurance provider Thomas Miller Specialty has announced that it has completed the acquisition of Lodestar Marine's book of business. As part of the agreement, Lodestar Marine's Vicky Clarke will be joining Thomas Miller Specialty. She brings more than 13 years of experience to the role, and will ensure continuity for ... Read the full article
Jennifer Blair joins Alliant’s Employee Benefits team in LA
13th December 2019
US specialty insurance broker Alliant Insurance Services has announced the addition of Jennifer Blair to its West Coast Employee Benefits team. Based in Los Angeles, she will service a diverse array of organisations across the region, working to attract talent, reduce operating costs, and strengthen the bottom line. Blair’s background includes roles ... Read the full article
New UAC board elected
13th December 2019
The Underwriting Agencies Council (UAC) has announced the appointment of four new directors and a new chair. The representative organisation for Australian and New Zealand underwriting agencies says retiring directors Kurt Nilsen, from Lion Underwriting, and Eric Lowenstein, from Tego, were re-elected for two-year terms. Jeanene Hill, from Canopius, and Anthony Porter, ... Read the full article
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